Reserve Bank of Malawi warns govt against overspending

Reserve Bank of Malawi governor Dalitso Kabambe has warned the government against spending off budgets, saying this would put the economic gains made so far off track.

Kabambe: Cautions

He said the government should spend within the K1.5 trillion national budget passed by parliament.

“We are on the right track economically. If electricity, water, fuel and food does not go up, our inflation will go down again,” said Kabambe.

He however said the government should not overspend because of the elections, saying everything should be within the budget.

Finance minister Goodall Gondwe said the government would not balloon the budget because of the elections.

“I am quite certain we will stick to the budget. We don’t want anyone who will win to inherit a very bad economy,” said Gondwe.

He said in 2014, president Peter Mutharika inherited a very bad economy because of the infamous K30 billion cashgate, the free for all loot of public money at Capital Hill, the seat of government in Lilongwe.

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Bolero
Bolero
1 year ago

‘………We don’t want anyone who will win to inherit a very bad economy’ Good talk Mr Goodall. Indeed we don’t want to inherit the mess you have created. Even if we do, we shall clean it up. We have the ways, means and wits to do so.

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